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Block and chain, because the word suggests, a chain made of blocks! So we know what are these blocks. Blocks are a kind of database! People who focus on computers know databases perfectly! And for those that do not know, if we say in simple language, then the database is known as Collection of Data! Data, hardly anything else, whatever information you type using the pc, that information is stored in the electronic form in the computer! Similarly, every information about the Internet is a sort of data! And this is really a collection of data database! This database is held in the computer such that it can often be searched.

In blocks, the database is collected in groups and also this group is named blocks. Each block features a limited space or chance to collect the database! And every time a block is very filled with the database, it really is automatically linked to the next block! In this way one block gets that come with another block! And there’s a chain! This is what is called the chain of blocks, that is certainly, the blockchain!

What are the elements of Blockchain?

There are three kinds of elements inside a blockchain-

Data saved in blocks

Hash (Transition Hash) generated from that transition

Hash.(Previous Hash) of the first block linked to that block

Note – The first block in the blockchain is named the Genesis Block!

What are nodes in blockchain?

The computers which blockchain data is stored! They are called nodes and the nodes which can be connected to the blockchain possess a copy of the blockchain! Which updates every ten minutes! With the help of these nodes, it is usually found out by using a Hash make sure that there may be no change in it. If all of the transitions inside blockchain are authorized by the nodes, that’s, the evidence of work is approved, chances are they’ll are written in blocks! With the help of nodes, the data from the blockchain is stored, spread and preserved. A copy of each transition made in the blockchain on each from the nodes is updated every 10-ten minutes! That’s why it can be considered safe!

How does blockchain process?

Each block features a cryptographic hash from the previous block which can be generated on every transition made within the blockchain! Hash is a string of numbers and letters. That is, Hash is often a mathematical function that encrypts the input data in the output of a fixed length. So, regardless of the size of the input data, the Encrypted Unique Hash is obviously of a limited size! And at the same time it can be also for this Hash made from the previous block’s transition!

Why is blockchain technology considered secure?

If someone desires to edit the database on this Blockchain Technology, another new hash is generated! Due to which the setting of after blocks is changed and it really is easy to know the location where the setting may be changed! So no one can tamper with your data on this blockchain! Now if you realize that you have to make some changes in the block chain, then you’ve to show the proof of work, that’s, for whatever changes you will make, all the computers (Nodes) connected to the blockchain have to make this change. The information needs to be sent simply if the majority with the computers approve, you’ll be able to change it!

Where can blockchain technology be used within the future?

In preventing corruption

Yes, corruption could be prevented by using blockchain technology because whatever database is saved in the blockchain is copied on every nodes therefore anyone desires to change the data then all the others will know regarding it!

In maintaining government records

The utilization of blockchain technology in government offices can be very secure.

Anyone whose name is kept in the database cannot be changed while buying and selling properties using Blockchain technology! Due to which any disputes regarding properties can come down.

Patient record keeping in the hospital

If all the information associated with patients is kept in the blockchain, it will be correct and anyone will probably be able to hop on.

In virtual currency | In Cryptocurrency

People have already started investing within the cryptocurrency you happen to be seeing inside online market like bitcoin, ethereum, dogecoin etc and this currency keeps growing faster than gold! One advantage of this is that it’s decentralized i.e. no require any middleman like within the ordinary currency we use, we need to use banks to transfer money from place to another! And they also charge some fees for this, banks will never be needed inside the transition to Cryptocurrency! And you is going to be able to transact with crypto currency anywhere inside world!